Islamabad: Pakistan and Bulgaria agreed to enhance their bilateral trade ties at the conclusion of the second session of the Pakistan-Bulgaria Inter-Governmental Commission (IGC) that ended on Tuesday, a news source reported.
Pakistan also signed an agreement with Bulgaria on the issues of ‘avoidance of double taxation’ and ‘prevention of fiscal evasion’ with respect to taxes on income.
Secretary Economic Affairs Division (EAD) Noor Ahmed and the Bulgarian deputy minister of economy led their respective delegations at the occasion.
The discussions held during the session focused on boosting both the countries’ trade, economic cooperation in agriculture, livestock, tourism, culture, maritime, and railways sector concerns.
Bulgaria agreed to facilitate the export of Pakistani citrus fruit, mango, rice, raw cotton, dates, fruits, and marble to its own markets and other East European countries. Pakistan, in return, agreed to ease the import of Bulgarian products into the country.
Meanwhile, Director General FBR Muhammad Ashfaq Ahmad and Deputy Minister of Economy Republic of Bulgaria Liliya Ivanova signed the agreement on avoidance of double taxation on behalf of their respective governments.
This pact will serve as a safeguard against the double taxation of incomes of Pakistani and Bulgarian residents.
